There are many quotes that can be related to supply chain. Some are just specifically told for the Supply Chain itself, some are just general but we can relate them to our supply chain business easily.
I also share these in instagram, but I love them so much so I wanted to have a blog post about Supply Chain Quotes. They are also good business quotes and some of them are funny quotes about Supply Chain.
Most of them are quotes from famous people and I just made up some of them myself
I hope you enjoy them. Feel free to comment and add your quotes to them!
Supply Chain Acronyms
There are so many acronyms that are used in the Supply Chain and Logistics business. It might be becasue we are always trying to save some time to become more efficient in everything we do!
Here I will try to give some of the most commonly used supply chain acronyms, as well as logistics acronyms.
You can add in the comment section the ones you use as well.
Also every company has its own acronym words
There are many K.P.I.s (Key Performance Indicators) in the Supply Chain. Companies set their goals for the year and keep track of it periodically (weekly, monthly, quarterly) to see how they are going and what they need to focus on more to achieve end-year targets.
KPIs are not always meaningful by themselves. You need to have a balanced scorecard Read more
Game of Thrones in Supply Chain
Have you ever wondered what jobs would Game of Thrones characters do if they were in the Supply Chain Business?
Eddard (Ned) Stark – Supply Chain Director
Ned Stark is possibly the only character in Game of Thrones that everyone likes and respects. He is kind, loyal, thoughtful and always thinking for the overall benefit for everyone. Everyone Read more
Making a good decision on which masters program to choose is a tough thing. This is usually a one shot action! Very few people would have the chance to change their minds after they start a program. So you should make sure you won’t regret your choice. But how? Read more
Supply Chain is a hard business area, where you need to have a perfect balance between demand and supply.
Supply Demand Balance Cartoon (o9solutionsn)
In order to have an efficient supply chain,
- Demand planning is the 1st step. Better forecasting saves you time and gives you the opportunity to build up an inventory plan.
- Inventory management and warehouse utilization is second. This is both about the materials, raw ingredients and finished goods. You need to have set the rules for stock levels (whether you are willing to keep more stock in case of an oversale or not depends on how flexible your production/suppliers are to demand volatilities). Also alternative material/product options must be identified so that you can have some flexibility with the alternatives.
- Supply planning counts on suppliers’, transporters’ and purchasing processes and 3PL performance if you are working with one.
Most importantly it is all about how good you are with handling the stress and making plan B, C, D, etc. Because supply chain is all about estimation of possible variations and managing unexpected issues! This is an exciting and colorful world…
Supply and Demand Balance is one of the most important keys to success in the Supply Chain.